With money to spend and a wealth of players available in free agency beginning next month, it would seem the Chargers have a legitimate opportunity to make necessary improvements in order to get in position for a run back to the playoffs.

“It’s a terrific time to be looking in a number of areas,” said Chargers General Manager A.J. Smith, whose team is expected to have more than $20 million in cap space to work with as it attempts to retain its own free agents and bring in veterans from elsewhere.

When he announced his decision to keep Smith and head coach Norv Turner, Chargers President Dean Spanos talked about possible measures both men needed to take.

When speaking of Smith, Spanos said: “We do need to do some things differently in our player personnel selections going forward. Maybe in free agency you’re more proactive.”

That was interpreted by many as the sign of a directive to Smith. But, in fact, Spanos endorsed Smith’s reliance on the draft and building from within. Those in the know insist there was no directive given to Smith other than to evaluate the process by which personnel is acquired and to get better at those acquisitions.

That said, an abundance of good players due to be unrestricted free agents March 13, coupled with the Chargers needing to get better at a number of positions — including offensive line, wide receiver, linebacker and in the secondary — could prompt a departure from most of Smith’s previous nine offseasons as Chargers GM.

The Chargers in July and August signed 15 veteran free agents, including those retained by the team, at a cost of more than $50 million in 2011 salary and bonuses. The number of signings in a single offseason was not only unprecedented in Smith’s tenure but it was more free agents than the team had signed from 2005-10 combined.

Given the circumstances, it is conceivable the Chargers could make more of a splash in the upcoming free agency pool.

“Right now it could be open,” Smith said, “because of the holes we have and the depth (in the free agent market) at certain positions.”

But he will not make a departure for departure’s sake. His preference is to hang back, watch the market settle and pounce when he sees a good value. But Smith maintains what he has always maintained — that he is willing to bring in a marquee player if he thinks that player can help and is worth the price.

Whatever he does, he knows he needs to find the right players — and hoping they stay healthy. Smith’s misses in the draft and relative lack of activity in free agency can be lamented by fans, but many league observers were impressed with the players the Chargers brought in (and retained) before last season. Too many injuries were among the reasons the Chargers went 8-8 and missed the playoffs in 2011.

“I like our philosophy and approach,” Smith said last week. “I don’t want to change anything. I want to make better decisions. We need to hit on these players a little better.”